[2023-08-18] No, Elon Musk's SpaceX Isn't the Cause of This price drop

[Kakmakr]

https://www.coindesk.com/markets/2023/08/18/no-spacex-isnt-the-cause-of-this-multi-billion-dollar-bitcoin-bloodbath/

"Professional traders say market structure and liquidations were a likely reason for the sudden drop instead of a singular fundamental catalyst."

"Data shows most long liquidations took place on crypto exchange OKX, accounting for nearly 40% of the entire market"

"Meanwhile, traders seem to be waiting on a Grayscale court ruling about the issuance of an exchange-traded fund (ETF), a ruling widely expected to be announced on Friday."

So there are several factors that are causing a combined trigger for a sell-off and a small drop in the price. I say "small" ..because we have become accustomed to high price volatility in Bitcoin. 

[Woodie]

https://www.coindesk.com/markets/2023/08/18/no-spacex-isnt-the-cause-of-this-multi-billion-dollar-bitcoin-bloodbath/

"Professional traders say market structure and liquidations were a likely reason for the sudden drop instead of a singular fundamental catalyst."

Market structure any day,  any time time!

You know what they say, market  structure is king and this has been proven for the longest time.

"Data shows most long liquidations took place on crypto exchange OKX, accounting for nearly 40% of the entire market"

Is this saying all these positions were liquidated or maybe still waiting to be filled 

"Meanwhile, traders seem to be waiting on a Grayscale court ruling about the issuance of an exchange-traded fund (ETF), a ruling widely expected to be announced on Friday."

Am looking forward to see how this will go for bitcoin should the ruling go in favor of Bitcoin...
And just not to be too expectant, history has shown these ETF usually don't get the needed outcome and cryptonians shouldn't put Bitcoins road map in the hands of these guys!